About Alcoholic Beverages
Alcoholic beverages are broadly categorized into three types: beer, spirits (distilled beverages), and wine. Beer is the most widely consumed alcoholic beverage in the world. It is brewed from malted cereals, predominantly barley and wheat, which are mashed and the resultant liquid fermented with yeast. Hops are then added as a preservative and to impart flavor.
Technavio’s analysts forecast the alcoholic beverages market in the US to grow at a CAGR of 3.51% by revenue, during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the alcoholic beverages market in the US 2016-2020. To calculate the market size, the report considers the revenue from the retail sales of alcoholic beverages in the country. It also includes the market size based on volume, which has been calculated based on the retail consumption of alcoholic beverages. Technavio's report, Alcoholic Beverage Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Alcoholic Beverage Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the Alcoholic Beverage Market in the US by category: Beer - Anheuser-Busch InBev, D.G. Yuengling & Son, MillerCoors, Pabst Brewing, The Boston Beer Company; Spirits - Bacardi, Beam Suntory, Brown-Forman, Diageo, Pernod Ricard; Wine – Bronco Wine Company, Constellation Brands, E.&J. Gallo Wine Company, Treasury Wine Estates, and the Wine Group.
Other Prominent Vendors in the market are: Altitude Spirits, Blue Ice Vodka, Fifth Generation, Gruppo Campari, Harpoon Brewery, Heaven Hill Brands, Lagunitas Brewing, Matt Brewing, McCormick Distilling, Minhas Craft Brewery, North West Distillery, Oskar Blues Brewing, RS Lipman, and Two James Spirits.
Commenting on the report, an analyst from Technavio’s team said: “The market for craft beer is on the rise. The craft beer market in the US was valued at $19.6 billion in 2014 and is expected to reach $45.4 billion by 2019, growing at a CAGR of 18.3% during the forecast period. Craft or locally brewed beers have a distinctive taste compared with regular beers and are sometimes made from different ingredients and flavors. These are brewed and served in bottles, cans, and kegs. Consumer preference for craft beer has grown and evolved in the US and is an important factor that has contributed to the demand.”
According to the report, a key market driver is the rising number of wineries, breweries, and distilleries around the US. Younger consumers increasingly seek variety and exclusivity in alcoholic beverages. This is apparent in their demand for locally brewed beverages like craft beer and flavored alcoholic beverages. In an attempt to cater to this rising demand, existing vendors and new entrants alike have invested in new wineries, breweries, and distilleries. California is the largest state in terms of the number of wineries, with over 4,000 wineries.
Further, the report states that a challenge to the market could be the high taxes levied on spirits and alcohol.
Beer - Anheuser-Busch InBev, D.G. Yuengling & Son, MillerCoors, Pabst Brewing, The Boston Beer Company; Spirits - Bacardi, Beam Suntory, Brown-Forman, Diageo, Pernod Ricard; Wine – Bronco Wine Company, Constellation Brands, E.&J. Gallo Wine Company, Treasury Wine Estates, the Wine Group, Altitude Spirits, Blue Ice Vodka, Fifth Generation, Gruppo Campari, Harpoon Brewery, Heaven Hill Brands, Lagunitas Brewing, Matt Brewing, McCormick Distilling, Minhas Craft Brewery, North West Distillery, Oskar Blues Brewing, RS Lipman, Two James Spirits.
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